Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.

While you're interviewing PMs, I'd also be interviewing Realtors to help you with this, focusing on ones that have relationships with PM in the area, have helped investors before, etc.

My goal is to establish mutually beneficial relationships that enhance both their careers and mine.I look forward to connecting with like-minded individuals and teams passionate about success in real estate.

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

I am looking to gain mentorship and relationships!

However, California treats rental income as passive regardless of REP status, so these benefits won’t apply at the state level.This post does not create a CPA-Client relationship.

My professional background is data science / analytics, which means analyzing cash flows will probably come more naturally than building relationships, which apparently, is how one finds deals worth making.Are there meetups in these areas I should attend (digitally at first, presumably)? 

While it may seem daunting at first, beginning with a clean slate allows you to establish clear expectations and build a strong landlord-tenant relationship from the outset.

Consider an installment sale if financing is an issue.This post does not create a CPA-Client relationship.

You also will need to have multiple lender relationships as you grow.